Novanta Inc. (NASDAQ:NOVT – Get Free Report)’s stock price dropped 8.8% during trading on Tuesday . The stock traded as low as $153.83 and last traded at $150.4350. 49,353 shares traded hands during trading, a decline of 89% from the average daily volume of 464,784 shares. The stock had previously closed at $164.89.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOVT. Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. Robert W. Baird set a $180.00 price objective on Novanta in a research note on Tuesday, June 9th. Finally, Wall Street Zen upgraded Novanta from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Novanta has an average rating of “Hold” and an average price target of $180.00.

Get Our Latest Report on Novanta

Novanta Trading Down 10.4%

The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15. The stock has a market cap of $5.58 billion, a P/E ratio of 107.18 and a beta of 1.67. The firm’s 50-day simple moving average is $153.42 and its 200 day simple moving average is $137.55.

Novanta (NASDAQ:NOVT – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. The business had revenue of $257.71 million during the quarter, compared to the consensus estimate of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. As a group, equities research analysts anticipate that Novanta Inc. will post 3.59 earnings per share for the current year.

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the sale, the chief executive officer directly owned 42,761 shares in the company, valued at $6,432,537.23. The trade was a 14.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Novanta

Several large investors have recently bought and sold shares of NOVT. AQR Capital Management LLC lifted its stake in shares of Novanta by 78.9% in the 1st quarter. AQR Capital Management LLC now owns 4,231 shares of the technology company’s stock worth $537,000 after acquiring an additional 1,866 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Novanta by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 419,037 shares of the technology company’s stock valued at $53,582,000 after acquiring an additional 6,533 shares during the period. Jane Street Group LLC raised its holdings in Novanta by 1,762.5% during the first quarter. Jane Street Group LLC now owns 61,631 shares of the technology company’s stock worth $7,881,000 after purchasing an additional 58,322 shares in the last quarter. First Trust Advisors LP bought a new stake in Novanta during the second quarter worth approximately $528,000. Finally, Amundi lifted its position in Novanta by 2.0% in the second quarter. Amundi now owns 18,042 shares of the technology company’s stock worth $2,397,000 after purchasing an additional 347 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Company Profile

(Get Free Report)

Novanta, Inc (NASDAQ: NOVT) is a global technology company that designs and manufactures precision components, subsystems and software used in advanced photonics and motion control applications. The company serves customers in the medical device and advanced industrial markets, supplying critical technologies for diagnostics and therapeutic systems, semiconductor and electronics manufacturing, and scientific instrumentation. Novanta’s product portfolio includes laser control modules, optics, beam delivery systems, high-precision motors, actuators, stages, and fluidics solutions designed to meet stringent accuracy and reliability requirements.

Novanta’s Photonics segment delivers laser and energy delivery components that enable minimally invasive surgical procedures and diagnostic imaging.

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